Finding Value in Big Banks, Pipelines and Apple

For Value Line manager Mark Spellman the key metric is free cash flow, and he's willing to go wherever he can find it, from gold miners to big tech to pharma.

Mark Spellman's office overlooks Times Square, but his investing interests range from Wall Street to Silicon Valley to Canadian gold mines.

Spellman is the portfolio manager of the Value Line Income and Growth Fund (ticker: VALIX), which earns a four-star rating from Morningstar and has outperformed its moderate allocation peers for the past five- and 10-year periods. He looks for companies with strong free cash flow, giving them the...